When evaluating the fundamentals of a cryptocurrency, one of the most important things to look out for is the team. The team is important because, if it is not technically competent, or is not transparent in its operations, it can spell doom for investors. There are lots of scams in this market, and the only way to tell a good project from a bad one is the team behind it. The more credible the team, the higher the chances that it is a worthy project with good long-term prospects. Using this rationale, two projects worth keeping an eye on are Cardano (ADA) and XRP (XRP).
Cardano (ADA) is backed by one of the best teams in crypto, the IOHK. Charles Hoskinson, the head of IOHK, was one of the brains behind Ethereum (ETH). Besides the towering personality of Charles Hoskinson, there are a number of other factors that make the Cardano team an A-list crypto team.
One of them is their handling of Cardano’s ICO funding. The team was smart enough to divest their bitcoins, in order to ensure funding stability all through the project. This has ensured that Cardano will never have funding issues all the way into 2020, when the roadmap is expected to be completed.
This gives Cardano stability in a market where lots of projects are at risk of funding issues, due to the sustained crypto bear market. Then there is the aspect of transparency. In spite of all the challenges in building a crypto as complex as Cardano, the IOHK has been very transparent with regards to Cardano’s progress.This is a big deal because it gives investors a complete picture of what they areinvesting in, which is quite attractive, especially for institutional money.
XRP is another gem when it comes to A-list teams. With people like David Schwartz, the guy who was conceptualizing blockchain way before Satoshi Nakamoto came up with the Bitcoin whitepaper, you can be sure that XRP (XRP) is a fundamentally sound DLT. Even more important is the fact that it is fully intertwined with ripple, one of the most successful blockchain organizations. Ripple has been very aggressive in pushing for the adoption of XRP as a tool for cross-border payments by the global banking industry. According to Brad Garlinghouse, there will be at least a dozen banks using XRapid by the end of 2019. If this comes to pass, it will have a massive impact on the value of XRP. That’s because, when banks are settling their cross-border payments in XRP, the demand for XRP by banks would be very high, and this buying pressure would reflect in the value of XRP.
In essence, other factors held constant, XRP (XRP) and Cardano are some of the best investments in the crypto market. They may not be performing so well at the moment, but they have the potential to do extremely well in a bull market, pushed by strong teams,and growing adoption.